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Oct 31, 2024
Thor Q1 2025 Earnings Report
Performance was impacted by the soft retail and wholesale environment, but the company remains positioned to outperform the market upon its return.
Key Takeaways
THOR Industries reported a decrease in net sales to $2.14 billion, a net loss of $(1.8) million, and a gross profit margin of 13.1% for the first quarter of fiscal 2025. The company focused on aligning production with the current retail environment and managing inventory levels.
Net sales decreased by 14.3% to $2.14 billion compared to the first quarter of fiscal 2024.
Gross profit margin was 13.1%, a decrease of 120 basis points compared to the same period last year.
Net loss attributable to THOR Industries was $(1.8) million, with diluted earnings per share of $(0.03).
The company generated approximately $30.7 million of cash from operations.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company anticipates a challenging second quarter followed by stronger third and fourth quarters. By the end of fiscal year 2025, the retail market is expected to begin trending positively, setting up fiscal year 2026 to be a stronger year.
Positive Outlook
- Retail market will begin to trend positively by the end of fiscal year 2025.
- Fiscal year 2026 is expected to be a stronger year.
- RVIA expects wholesale unit shipment totals to exceed 345,000 units for calendar year 2025.
- Signs of the return of the normalized market are beginning to show in the form of an uptick in dealer optimism.
- Company is positioned for a strong performance upon the market’s return.
Challenges Ahead
- Challenging second quarter is expected.
- Market conditions remain difficult.
- Consumer confidence is a concern.
- Potential for macroeconomic headwinds.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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